Angola
After independence in 1975, the country’s infrastructure was ravaged by a 30-year civil war. The economy remains overly reliant on petroleum exports, which accounts for about 95% of goods exports and 60% of tax revenues. Efforts to clamp down on corruption and to privatise inefficient parastatals have intensified since President Lourenço took charge in 2018.
We forecast economic growth to improve to 0.3% (previously 1.0%) in 2021 from -4.0% in 2020. The downward revision was mainly prompted by the weaker-than-expected oil output in H1 2021. On the political front, the Lourenço administration faced unprecedented protest action in 2020 and is clearly concerned about its electoral fortunes in 2022. (Source: Angola Quarterly Update, published September 2021)
Macroeconomic Data
(2020)
Fiscal Balance (as a % of GDP)
Consumer Price Index (% change y-o-y, avg)
Current Account Balance (as a % of GDP)
Real GDP (annual % change)
GDP per Capita, US$
Import Cover (months)
Population, million
Total External Debt (as a % of GDP)
-1.7
22.3
1.4
-4.0
1,895.8
10.58
32.9
107.9